BAKU, Azerbaijan, July 14. Kazakhstan's inflation rate is expected to be 13.2 percent by the end of 2022, Trend reports citing the Macroeconomic Review report of the Eurasian Development Bank (EDB) "Discorrelation of national currency dynamics – new EAEU+ phenomenon".
According to the review, inflation in Kazakhstan accelerated from 14 percent to 14.5 percent in June 2022.
"Food products continue to make the greatest contribution to the consumer price index (CPI) amid increased demand for socially important products and persistently high prices in world markets. Disruptions in global supply chains continued to exert pressure on the non-food product prices – increased expenses of producers are being transferred to consumers," the review said.
EDB analysts assume that elevated pro-inflationary risks are related to high regional uncertainty, increased economic activity in Kazakhstan, as well as enhanced fiscal support measures.